Centessa Pharmaceuticals (NASDAQ:CNTA) Trading Down 10.5% – Here’s Why

Centessa Pharmaceuticals plc (NASDAQ:CNTA) dropped 10.5% during trading on Wednesday . The company traded as low as $15.42 and last traded at $15.50. Approximately 255,548 shares traded hands during trading, a decline of 42% from the average daily volume of 439,539 shares. The stock had previously closed at $17.32.

Analyst Ratings Changes

CNTA has been the topic of a number of recent analyst reports. TD Cowen initiated coverage on Centessa Pharmaceuticals in a research note on Tuesday. They set a “buy” rating on the stock. B. Riley initiated coverage on Centessa Pharmaceuticals in a research note on Thursday, September 19th. They set a “buy” rating and a $33.00 target price on the stock. BMO Capital Markets lifted their target price on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Guggenheim lifted their target price on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Morgan Stanley upgraded Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $11.00 to $26.00 in a research note on Thursday, September 19th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Centessa Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $25.83.

Centessa Pharmaceuticals Stock Down 2.9 %

The stock has a 50 day moving average of $16.98 and a 200-day moving average of $14.33. The firm has a market capitalization of $2.06 billion, a P/E ratio of -10.22 and a beta of 1.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.52 and a current ratio of 21.52.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. Research analysts predict that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 87,496 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $18.46, for a total transaction of $1,615,176.16. Following the completion of the transaction, the chief executive officer now owns 575,661 shares of the company’s stock, valued at approximately $10,626,702.06. The trade was a 13.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gregory M. Weinhoff sold 10,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $17.66, for a total value of $176,600.00. Following the transaction, the insider now directly owns 183,266 shares of the company’s stock, valued at $3,236,477.56. The trade was a 5.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 368,023 shares of company stock valued at $6,335,574 in the last quarter. 11.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Centessa Pharmaceuticals by 47.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock worth $40,000 after purchasing an additional 826 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Centessa Pharmaceuticals by 103.1% during the third quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock worth $48,000 after purchasing an additional 1,509 shares in the last quarter. Quarry LP grew its holdings in shares of Centessa Pharmaceuticals by 47.8% during the second quarter. Quarry LP now owns 9,608 shares of the company’s stock worth $87,000 after purchasing an additional 3,108 shares in the last quarter. Sandia Investment Management LP purchased a new stake in Centessa Pharmaceuticals in the second quarter worth approximately $90,000. Finally, Fred Alger Management LLC purchased a new stake in Centessa Pharmaceuticals in the second quarter worth approximately $99,000. Hedge funds and other institutional investors own 82.01% of the company’s stock.

Centessa Pharmaceuticals Company Profile

Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines for patients. Its products pipeline includes SerpinPC, an activated protein C inhibitor for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of narcolepsy and other sleep disorders.